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Atricle Dump - Mortgage Broker Training Article: The Truth About Realtor Marketing
The need to pay for a college degree comes with the honor of earning it. Fortunate students have parents that are willing to pay for their studies. However, some students have to work hard and earn scholarships in order to finish their degree.You will probably have huge student loans to work off after you graduate if you have to pay for college yourself. Most of the students who get student loans students don’t understand what they are getting into once they graduate. Fortunately students can apply for deferments and forbearance if their funds are low.These will give students a grace period before they have to begin paying off their loans. However, the interest will continue to build up, even if these can help students when money is tight. Students end up facing defaulted student loans, when they miss their payments.You can kiss your credit rating goodbye if this happens to you. Your credit report will indicate defaulted student loans. Banks or other lending institution may not extend a loan to you because of this blemish in you
As a franchisor, I see the need to franchise Space Colonies and yet I also understand that this is not something you can come out and talk about. Most folks who are on the leading edge of the Privatization of Space agree too and it makes sense. The Franchise Business Model makes sense for space colonies.Well also regarding this issue to franchise Space Colonies in the future you cannot talk about that stuff, (well at Futurists Club Meetings in Merry Land maybe?) but people will think you are crazy, so you could write about it in Science Fiction Novels I suppose?Why does the Franchising of Space Colonies make so much sense? Well look at the founding of our nation in the United States, as the thirteen colonies joined as a single Union. The United States, indeed in hindsight that worked out quite well didn’t it? Yes it did as today only some 230 years later we now have the greatest single civilization ever created in all the written recorded history of mankind.So the vision to franchise space colonies to make sure this is done righ
Unfortunately, while there are plenty of companies that claim to offer training-oriented solutions, many of these so called "solutions" turn out to be nothing more than the same information you have seen a thousand times before. Thankfully, this article is not the same old information repackaged to look new. In fact, my goal in writing this training article is to open up the eyes of as many originators as I can to the truth about marketing to realtors. With this being such a broad topic, it is difficult to find a good starting point. I finally decided to begin with a discussion about why realtors act the way they do. I decided on this as a starting point because of the fact that so many mortgage brokers seem to complain about the attitude they seem to encounter when marketing to realtors. Here are the most common complaints I hear in regards to agents:
*Realtors are too hard to work with *Realtors already have mortgage broker relationships *Realtors stick their nose in my business *Realtors expect too much *I can't deal with the condescending attitude
These are just a few of the many complaints I have heard from mortgage brokers around the country. If you're reading this article then I'm sure you have some of these complaints as well. Perhaps you contacted a few realtors yourself only to be greeted with a negative tone and attitude? If so, then now it is time to find some answers. Answers, We have some!
In order for us to understand why we are treated the way we are when attempting to build realtor relationships, we need to experience exactly what agents experience. We can do this by looking at the past few years. In the last few years market conditions have been favorable enough to allow just about anyone with decent sales skills to enter the field and earn a very comfortable living. This continued long enough for mortgage companies to resign themselves to hiring just about anyone with a breath and a pulse just to keep up with the demand for refinances. While this may have worked out well for those doing the hiring, it wreaked havoc on the reputation of those who are in this business for the long haul.
Even under the best of conditions, most mortgage broker education and training tends to leave the student thirsty for proper education, so you can imagine the depth of training that is offered when speed is the primary focus. Let's go a little deeper into this scenario and fast forward to our current market condition. As interest rates have moved upward and the easy deals have dried up, many of these mortgage brokers who have survived on nothing more than refinances for the past year or two are now receiving a wake up call. With the easy business gown, many of these originators have either exited the business or attempted to replace the refinance income with purchase business. It doesn't take much of an imagination for you to visualize the outcome of this scenario. Thousands of desperate mortgage brokers who have never originated a purchase transaction before can easily create a negative image of our profession. In fact a recent survey was conducted to rate the level of consumer confidence in various professions. The results showed that consumer trust in mortgage brokers was only slightly higher than the profession of used car salesman. What does that tell you?
Now imagine that you are a real estate agent and your paycheck depended on this group of individuals. Imagine how often these agents have been hit up for business by desperate mortgage brokers. In fact, you don't even have to imagine as we have some figures for you. After conducting a survey with over 100 local real estate agents (Midwest) we found that the average realtor is contacted for business by mortgage brokers an average of 35 times per week! Think about that for a moment.
Whenever you begin to wonder why a realtor is somewhat short with you on the phone, remind yourself that this could be the 35th time this agent has been contacted this week. To be fair, I do need to clarify that this number of 35 contacts per week does include direct mail and email as well. However this does not include all of the other affiliates who are also looking for business such as title reps, real estate attorneys and appraisers. If you were to stop and consider the implications of this information, you would realize that this means that each month, the average realtor is receiving around 140 messages that are intended to ask for business in one way or another. That's a lot of marketing chatter to filter through! If this agent has been in business for even one year, this means that he/she has listened to thousands of messages from other mortgage brokers and has probably heard just about every "beat around the bush" approach and promise you could imagine. How long do you think it would take for you to build up a wall of sales resistance in a similar situation? Just think about the way we treat telemarketers if they call and interrupt dinner a few times in one night? Are we eager to hear their sales message, or do we blow them off? Perhaps we even join the Do Not Call list to actively protect ourselves from hearing these sales messa
Finance is the backbone of every business. People need money for expansion of business, purchase of goods and most importantly for starting new ventures. Loans come handy in these kinds of situation. Short term business loans are very useful for the short term financial needs of a businessman or for starting a new venture.UNDERSTANDING SHORT TERM BUSINESS LOANS:As the name suggests short term loans can be availed for a short period of time with repayment duration ranging from 90 – 120 days but can be extended up to 3 years depending your need and repayment ability. Short term business loans are basically of two types. Secured and unsecured. Secured short term business loans can be availed by pledging one of your assets as collateral with the lender. Interest rates of secured loans are lower compared to unsecured loans because lender has security in the form of collateral. To avail unsecured loans you don’t need to place any security but the interest rate is higher and also the repayment duration is lower. Short term business loans can
These are just a few of the many complaints I have heard from mortgage brokers around the country. If you're reading this article then I'm sure you have some of these complaints as well. Perhaps you contacted a few realtors yourself only to be greeted with a negative tone and attitude? If so, then now it is time to find some answers. Answers, We have some!
In order for us to understand why we are treated the way we are when attempting to build realtor relationships, we need to experience exactly what agents experience. We can do this by looking at the past few years. In the last few years market conditions have been favorable enough to allow just about anyone with decent sales skills to enter the field and earn a very comfortable living. This continued long enough for mortgage companies to resign themselves to hiring just about anyone with a breath and a pulse just to keep up with the demand for refinances. While this may have worked out well for those doing the hiring, it wreaked havoc on the reputation of those who are in this business for the long haul.
Even under the best of conditions, most mortgage broker education and training tends to leave the student thirsty for proper education, so you can imagine the depth of training that is offered when speed is the primary focus. Let's go a little deeper into this scenario and fast forward to our current market condition. As interest rates have moved upward and the easy deals have dried up, many of these mortgage brokers who have survived on nothing more than refinances for the past year or two are now receiving a wake up call. With the easy business gown, many of these originators have either exited the business or attempted to replace the refinance income with purchase business. It doesn't take much of an imagination for you to visualize the outcome of this scenario. Thousands of desperate mortgage brokers who have never originated a purchase transaction before can easily create a negative image of our profession. In fact a recent survey was conducted to rate the level of consumer confidence in various professions. The results showed that consumer trust in mortgage brokers was only slightly higher than the profession of used car salesman. What does that tell you?
Now imagine that you are a real estate agent and your paycheck depended on this group of individuals. Imagine how often these agents have been hit up for business by desperate mortgage brokers. In fact, you don't even have to imagine as we have some figures for you. After conducting a survey with over 100 local real estate agents (Midwest) we found that the average realtor is contacted for business by mortgage brokers an average of 35 times per week! Think about that for a moment.
Whenever you begin to wonder why a realtor is somewhat short with you on the phone, remind yourself that this could be the 35th time this agent has been contacted this week. To be fair, I do need to clarify that this number of 35 contacts per week does include direct mail and email as well. However this does not include all of the other affiliates who are also looking for business such as title reps, real estate attorneys and appraisers. If you were to stop and consider the implications of this information, you would realize that this means that each month, the average realtor is receiving around 140 messages that are intended to ask for business in one way or another. That's a lot of marketing chatter to filter through! If this agent has been in business for even one year, this means that he/she has listened to thousands of messages from other mortgage brokers and has probably heard just about every "beat around the bush" approach and promise you could imagine. How long do you think it would take for you to build up a wall of sales resistance in a similar situation? Just think about the way we treat telemarketers if they call and interrupt dinner a few times in one night? Are we eager to hear their sales message, or do we blow them off? Perhaps we even join the Do Not Call list to actively protect ourselves from hearing these sales mess
The Government of India has met the December 31 deadline for complying with its obligation to World Trade Organisation (WTO) under TRIPs agreement, by promulgating an Ordinance – The Patent (Amendment) Ordinance, 2004 followed by the Act – Patent (Amendment) Act, 2005.Under TRIPS, India was required to introduce product patent where only process patent was permitted. Procedural changes were also required to be made as per Patent Co-operation Treaty (PCT). The new Act ensures adequate safeguards against misuse of patent rights and vests enough power with the Government to intervene and ensure that patented inventions are available for the public at an affordable price.In nutshell, the most important changes are:· Product Patent can be issued in respect of food, drugs and chemicals. Provisions of 'process patent' for these goods abolished.· Provisions in respect of EMR (Exclusive Marketing Rights) abolished.· Computer software per se is not patentable, but in combination with or embedded in hardware is patentable.p up with the demand for refinances. While this may have worked out well for those doing the hiring, it wreaked havoc on the reputation of those who are in this business for the long haul.
Even under the best of conditions, most mortgage broker education and training tends to leave the student thirsty for proper education, so you can imagine the depth of training that is offered when speed is the primary focus. Let's go a little deeper into this scenario and fast forward to our current market condition. As interest rates have moved upward and the easy deals have dried up, many of these mortgage brokers who have survived on nothing more than refinances for the past year or two are now receiving a wake up call. With the easy business gown, many of these originators have either exited the business or attempted to replace the refinance income with purchase business. It doesn't take much of an imagination for you to visualize the outcome of this scenario. Thousands of desperate mortgage brokers who have never originated a purchase transaction before can easily create a negative image of our profession. In fact a recent survey was conducted to rate the level of consumer confidence in various professions. The results showed that consumer trust in mortgage brokers was only slightly higher than the profession of used car salesman. What does that tell you?
Now imagine that you are a real estate agent and your paycheck depended on this group of individuals. Imagine how often these agents have been hit up for business by desperate mortgage brokers. In fact, you don't even have to imagine as we have some figures for you. After conducting a survey with over 100 local real estate agents (Midwest) we found that the average realtor is contacted for business by mortgage brokers an average of 35 times per week! Think about that for a moment.
Whenever you begin to wonder why a realtor is somewhat short with you on the phone, remind yourself that this could be the 35th time this agent has been contacted this week. To be fair, I do need to clarify that this number of 35 contacts per week does include direct mail and email as well. However this does not include all of the other affiliates who are also looking for business such as title reps, real estate attorneys and appraisers. If you were to stop and consider the implications of this information, you would realize that this means that each month, the average realtor is receiving around 140 messages that are intended to ask for business in one way or another. That's a lot of marketing chatter to filter through! If this agent has been in business for even one year, this means that he/she has listened to thousands of messages from other mortgage brokers and has probably heard just about every "beat around the bush" approach and promise you could imagine. How long do you think it would take for you to build up a wall of sales resistance in a similar situation? Just think about the way we treat telemarketers if they call and interrupt dinner a few times in one night? Are we eager to hear their sales message, or do we blow them off? Perhaps we even join the Do Not Call list to actively protect ourselves from hearing these sales mess
Signs of a Reliable Credit Counseling Agency__Better Business Bureau MembershipThe service's website should have a BBB logo and a link to their record on the Better Business Bureau website. Click through the link to check that there are no unresolved complaints against them. Many people only think about the Better Business Bureau after they've been cheated, but by then there's not much you can do. Working with a credit counseling agency that is a member of the Better Business Bureau means that you can go to them to help mediate any dispute you might have with the service provider.__AccreditationReputable credit counseling services will be accredited by an independent nonprofit, just as many schools are. One such accreditation body is the National Institute for Financial Counseling Education.__FeesA good credit counseling agency will charge a small, reasonable monthly fee, usually around $30. Some also charge a fee upfront, though this fee should be reasonable (around $50 tops). It may be
Now imagine that you are a real estate agent and your paycheck depended on this group of individuals. Imagine how often these agents have been hit up for business by desperate mortgage brokers. In fact, you don't even have to imagine as we have some figures for you. After conducting a survey with over 100 local real estate agents (Midwest) we found that the average realtor is contacted for business by mortgage brokers an average of 35 times per week! Think about that for a moment.
Whenever you begin to wonder why a realtor is somewhat short with you on the phone, remind yourself that this could be the 35th time this agent has been contacted this week. To be fair, I do need to clarify that this number of 35 contacts per week does include direct mail and email as well. However this does not include all of the other affiliates who are also looking for business such as title reps, real estate attorneys and appraisers. If you were to stop and consider the implications of this information, you would realize that this means that each month, the average realtor is receiving around 140 messages that are intended to ask for business in one way or another. That's a lot of marketing chatter to filter through! If this agent has been in business for even one year, this means that he/she has listened to thousands of messages from other mortgage brokers and has probably heard just about every "beat around the bush" approach and promise you could imagine. How long do you think it would take for you to build up a wall of sales resistance in a similar situation? Just think about the way we treat telemarketers if they call and interrupt dinner a few times in one night? Are we eager to hear their sales message, or do we blow them off? Perhaps we even join the Do Not Call list to actively protect ourselves from hearing these sales mess
Today I will give you ideas from Ken Evoy. Ken has helped more people set up successful Internet businesses than anyone on the 'Net. And I'm not exaggerating.Just to prove my point, as your first free gift, I am including a full fledged course written by Ken on the subject of setting up multiple streams of income using affiliate programs. Just go here to download the Affiliate Masters Course: http://www.netman-ecommerce-guru.com/Aff-Masters.zipThe Affiliate Masters Course gives you a proven formula called CTPM.C stands for content based on what people are looking for. If you know what people are looking for, it becomes easy to position your product as the solution. If your product solves a burning problem for people, you will get sales.The whole issue of content revolves around choosing the right words. In order to build a real business you have to focus in on keywords that will attract both customers and the search engines. Customers look for words to help them determine whether or not they are inter
One other thing to keep in mind is that throughout these thirty five contacts per week the number 1 most common pitch heard by these agents is "I'm here to help you build your business." or "I have leads to share with you." A close second is "We have great service and great products." If everyone else is using this approach, what do you think happens when you do too? You are brushed off as just another mortgage broker who over-promises and under-delivers just like everyone else. This is definitely not the first impression we want to make with agents. As if this weren't bad enough we also cannot forget about the mortgage brokers who are willing to do or say anything to get a loan. These are the people who are giving us a bad name in the industry and destroy our credibility. Just about every real estate agent has worked one time too many with a mortgage broker who caused major problems throughout the purchase process through lack of communication, and underhanded tactics. With all of this going on, it's time for us to stand up and take responsibility for our current situation. If we are using techniques and scripts that make us appear to be just like every other mortgage broker out there, is it any wonder that we keep hearing the same objections over and over again? Once we take responsibility for this situation, we are free to do something about it.
The great thing about this process is that once we minimize this problem, we minimize others as well. For instance, have you ever worked hard to get an appointment with a real estate agent, work hard to impress him/her during the meeting, only to hang your head in frustration as the agent promises to give you business, but never delivers? The solution to this problem is just about the same as the solution to the first problem. See, both of these attitude patterns are caused by either a lack of trust or a lack of credibility, or we simply have not demonstrated enough value to justify the agent taking the risk of using a new mortgage broker.
Whenever a real estate agent uses a new and untested mortgage broker you need to realize that not only are they risking an unpleasant process, but also their entire paycheck, credibility and potential for referrals. If an agent sends a client to you and things go wrong, the finger of blame is pointing at both you and the agent. Now that we have seen some of the causes of the problems we face when working with realtors, we want to discuss the solution.
In the name of keeping this article relatively short and free of fluff, I have created a second training article dedicated to offering solutions to the problems discussed here. You are only moments away from receiving part 2 of this series. To receive the solution to the problems discussed here, simply forward your request to averagejoelo@hotmail.com. You will receive part two shortly.
Have you signed up to participate in my free marketing training calls? Why not sign up for our next call when requesting this mortgage broker training article? Space is limited so RSVP early!
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